The BSE Sensex and the NSE Nifty 50 opened higher on Friday ending two consecutive days of losses, tracking sharp recovery in Asian, global markets.
The rupee opening at 68.70 against the US dollar added to the recovery after yesterday’s all-time low.
At 9.30am, the Sensex was trading higher by 157.11 points, or 0.45 percent, to 35,194.75, while the Nifty 50 was up by 57.60 points, or 0.54 percent, to 10,646.70.
Tata Steel, SBI, Vedanta, ONGC and Reliance were top gainers on the BSE, while Axis Bank, NTPC, Asian Paints, HDFC Bank, Hero MotoCorp were the laggards.
On the NSE, shares of BPCL, Tata Steel, HPCL, ONGC, SBI gained, while the Dr Reddys Labs, NTPC, Axis Bank, Asian Paints, Tech Mahindra were trading lower.
As many as 38 scrips advanced against the 12 declines on the NSE. Most of the broader market and sectoral indices on the 50-share benchmark index were trading in the green, with Metal, PSU Bank and Realty leading the sectors up to 2.13 percent gain. MidCaps and SmallCaps on both indices were also trading positive.
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The Indian markets had closed in the red on Thursday with the BSE Sensex at 35,037.64 points, declining by 0.51 percent, while the NSE Nifty 50 shedding over 82 points to end the day at 10,589.10 points, lower by 0.77 percent. On the NSE, 14 scrips advanced as against 36 declines, while all sectoral indices ended in the negative zone except Nifty Metal. Nifty IT, Media, Pharma, PSU Bank, Realty declined between 1-2.21 percent.
On Thursday, the rupee hit its all-time low, 69 against a dollar.
Asian markets too recovered sharply after opening lower on Friday, tracking overnight gains on the Wall Street. While the overall sentiment remains cautious due to global trade frictions, a move to ease foreign investment curbs in China is likely to have a positive impact on the sentiment.
At 9.41am IST, Hang Seng was trading above 300 points, or over one percent, while the Nikkei was down by 0.34 percent. In the early trade, the MSCI's broadest index of Asia-Pacific shares outside Japan was flat, Australian shares were 0.1 percent higher, while Japan's Nikkei stock index was down 0.2 percent.
Stocks on Wall Street posted small gains on Thursday, helped by financial and technology shares.
(With inputs from Reuters)